Turkish WR offers for Mediterranean

SteelOrbis has heard that Turkish producers are offering mesh quality wire rods to the Mediterranean region at $470-475/mt FOB on actual weight basis for January shipments. The offers have remained unchanged compared to last week. With the support of the Euro / US Dollar exchange rate, few wire rod sales have been concluded to Europe. Although the wire rod market is not in a good condition, the producers are holding out on their prices. The fact that both the scrap market and rebar prices are at a high level provides indirect support for the wire rod prices. Furthermore, the wire rod producers have stated that they would prefer to sell billets instead of concluding wire rod sales below the above prices. This is due to the level of domestic billet price, which is above $450/mt.